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In page Corporate personhood:

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This federal statute has many consequences. For example, a corporation may enter contracts,[2] sue and be sued,[3] and be held liable under both civil and criminal law.[4] Because the corporation is legally considered the "person", individual shareholders are not legally responsible for the corporation's debts and damages.[5] Similarly, individual employees, managers, and directors are liable for their own malfeasance or lawbreaking while acting on behalf of the corporation, but are not generally liable for the corporation's actions.[citation needed]